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A Reuters study finds about a fifth of EU soy imports from Brazil could be tainted by deforestation, and 17% of Brazil's beef exports to the EU are linked to deforestation. The study says only a small share of farms cause most illegal clearing.
The findings add to scrutiny of Brazilian soy and beef supply chains.
Heightened scrutiny of Brazilian soy and beef into the EU could redirect buyers toward other origins and raise compliance costs, modestly supporting non-Brazilian soy and premiums.
reuters.comJake SpringJul 16, 2020After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
After 65 past neutral trade events, Live Cattle moved a median +0.3% over 5 sessions (57% higher; middle half -0.5% to +1.4%), and +2.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
